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USDJPY trades sideways, hovering around the 150 level It remains close to its recent peak and it is comfortably above a key trendline Momentum indicators are mixed, all eyes on the stochastic oscillator USDJPY is trying to record a green candle as it continues to range trade and to respect the aggressive December 28, 2023 ascending […]

The post USDJPY Hovers Above a Key Trendline appeared first on Action Forex.

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22/12/2023

USDCHF Hits 2023 Floor

USDCHF tests July’s eight-year low Sellers might stay in power, but not for long Core PCE inflation due at 13:30 GMT It was another bearish week for USDCHF, with the price fully retracing its July-September upleg to reach July’s eight-year low of 0.8551. There is potential for an upside reversal around the 2023 floor of […]
20/05/2024

Pound Shrugs After BoE’s Broadbent Signals Rate cut

The British pound is almost unchanged on Monday. GBP/USD is trading at 1.2704 in the European session at the time of writing. The pound is coming off a strong week, with gains of 1.4%. GBP/USD touched a high last week of 1.2711, its highest point since March 21. The markets are keeping a close eye […]
08/05/2024

USD Extends Gains as Investors Shrug Off Fed Optimism

Yesterday was one of those days where we needed to fit a narrative to the market moves as the moves weren’t triggered by meaningful data or comments. The US 2-year yield was steady near the 4.80% level, the stocks were slow to move, the S&P500 traded slightly up, Nasdaq 100 came slightly down. Federal Reserve’s […]